JFE to reduce crude steel production in fourth quarter

After the recent announcement of production cuts by Japan's largest steel producer Nippon Steel, Japan's second largest steelmaker JFE Steel has also made a similar announcement.
 
Accordingly, in the fourth quarter this year JFE plans to reduce its crude steel production by 300,000 mt, including 200,000 mt at its Fukuyama plant and 100,000 mt at its Chiba plant.
 
JFE cited the floods in Thailand, which have hit that country's automotive industry, as the main reason for the planned steel output cuts. The uncertain global economic situation and the strength of the yen were also factors.